#LongLEAPs Sold $TQQQ Jan 2020 83.33 call for 6.30.

Today, as $QQQ just notched an all time closing high, you can see the TQQQ is about 5% below its highs. This is due to the compounding effects of a 3x leveraged product. The same force that drags NUGT, DUST, GUSH, DRIP, and others downward will drag on TQQQ. Because we’re in a long-term bull market, it is harder to see this force in the chart, but today’s high gives you a good snapshot when comparing to QQQ. Thus, I like selling farther out 83.33 call against my long 2020 50 calls. I just sold 1 today (against the 3 longs) and can add more at better prices or different strikes. I am ALSO still selling short term calls, so this will throw my deltas out of whack, but I’m really looking at each of the short calls separately and less at the full picture. Upside risk on a ContangoETF is not difficult to manage.